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1 st July 15 units at 3.30each
3july 5 units at3.30 each
8th July 10 units at 3.50
12 th july8 units sold at 4 each
In this i want to know how we get 41 using fifo method but I get 42 as ans. no matter how I do the sum pls clarifyI do not know where you found the question, but assuming that you have typed it correctly then the closing inventory is 22 units (15 + 5 + 10 – 8).
The valuation of them if using FIFO is (10 x 3.50) + (5 x 3.30) + (7 x 3.30) = $74.60.
I have no idea where you got 42 from. I can only guess that you have not copied out the question correctly.
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closing inventory
answers i wrote in that sum o/p inventory cost 15 units is 3 they asked to find closing inventory i forgot to mention it
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